General Insurance Article

Search Results Page 1 of 195.

1 2 3 4 5 6 7 8 9 10 11 12 Next Last

Consumers risk under insuring if they cannot pay monthly

One in four consumers will take out cheaper insurance policies or reduce cover if they do not have the option to pay monthly, Premium Credit’s Insurance Index shows. One in eight expect to cancel insurance cover they need over the next two years.
Posted on Thursday May 29

Time for Europe to harness the full potential of insurance

Statement published ahead of the 15th International Conference by Frédéric de Courtois, president of Insurance Europe, Alexander Sarrigeorgiou, vice-president of Insurance Europe and Thea Utoft Høj Jensen, director general of Insurance Europe.
Posted on Thursday May 29

More uncertain times driving positive vibe for insurance

The UK saw a 7 percent growth year on year in customers believing that insurers understand them and value their products and service. Guidewire has released the latest edition of its annual study of insurance customers in Europe, revealing their attitudes towards insurers and insurance innovation.
Posted on Wednesday May 28

Insurance payouts for pawly pets top GBP1bn for third year

Pet insurance pay-outs by ABI members topped £1 billion for the third consecutive year in 2024, helping households cover the cost of veterinary treatment for unwell and injured animals. This is according to the latest data from the ABI.
Posted on Tuesday May 27

FCA sets out proposals to simplify firm complaints

The FCA has set out proposals to improve and streamline the way in which firms report customer complaints to the regulator.
Posted on Friday May 23

FSCS expects to pay GBP38m less in compensation to consumers

The Financial Services Compensation Scheme (FSCS) has today lowered its annual levy expectation for 2025/26 to £356m – this is £36m lower than its forecast in November.
Posted on Friday May 23

Record numbers shopped and switched car insurance in 2024

More U.K. consumers shopped around for a better deal on their motor insurance in 2024 than at any point in the previous two years. This is according to the LexisNexis® Insurance Demand Meter U.K. for H2 2024 – a new analysis of the motor insurance industry’s shopping and switching trends from LexisNexis® Risk Solutions
Posted on Thursday May 22

IPT kicks off 2025 to 2026 tax year with record monthly high

According HMRC data, Insurance Premium Tax (IPT) receipts hit £648 million in April 2025 – kicking off the start of the new tax year at a record high.

Posted on Thursday May 22

Study proves driving data slashes motor insurance loss ratio

Angelica Solutions and Howden Driving Data (HDD) deliver definitive, actuarial-grade proof that driving behaviour predicts claims risk, outperforming traditional pricing models
Posted on Wednesday May 21

Car and Home insurance premiums decreases slow down in April

The latest General Insurance Price Index from Pearson Ham Group reveals a continued decline in motor insurance premiums through April 2025 but there are signs that the rate of reduction is easing.

Posted on Tuesday May 20

Call for greater clarity on EIOPAs opinion on AI

Insurance Europe has shared its views on the European Insurance and Occupational Pensions Authority (EIOPA)’s draft Opinion on Artificial Intelligence (AI) governance and risk management in the insurance sector.
Posted on Friday May 16

AI and ML in Actuarial and Risk report

The LMA has published the findings of a survey on artificial intelligence (AI) and machine learning (ML) use in actuarial and risk, conducted in partnership with Barnett Waddingham.
Posted on Thursday May 15

Quarterly motor claims hit record high

Motor insurers paid out £3.2 billion in car insurance claims during the first quarter of the year, the highest quarterly payout since records began in 2013, according to the latest data from the ABI.
Posted on Thursday May 15

Insurers need to adopt TIC instead of APR to manage risk

Insurers need to adopt Total Instalment Costs (TIC) instead of APR to manage risk and competitiveness as home and motor customers increasingly pay monthly, a new report from Consumer Intelligence says.
Posted on Thursday May 15

Consumers increasingly switch to credit to fund insurance

Premium Credit’s Insurance Index shows 76% of adults use some form of credit to pay for one or more insurance policies. Customers are borrowing 33% more than last year to pay for insurance. Research shows big increases in the use of credit by car and home insurance customers opting to pay monthly to help spread the cost
Posted on Wednesday May 14

Insurers must resolve problems to sell to younger generation

Insurers targeting younger generations face longstanding industry issues of a lack of understanding and a lack of consumer trust. While quicker fixes such as social media strategies and more flexible products may help somewhat, they would only appeal to a small proportion, so the more long-term issues need to be addressed to reach these generations, according to GlobalData.
Posted on Tuesday May 13

Judge orders Croydon moped rider to pay GBP25k

A moped driver has been ordered to pay £25,000 by Croydon County Court, after dashcam footage revealed that a personal injury claim made following a road traffic accident was false and fundamentally dishonest.
Posted on Friday May 9

Cyber claims report finds Ransomware stable but still costly

Coalition has published its 2025 Cyber Claims Report, which details emerging cyber trends and their impact on Coalition policyholders throughout the full year of 2024. The report found that ransomware claims stabilized in 2024 despite remaining the most costly and disruptive type of cyberattack. The majority of 2024 claims (60%) originated from business email compromise (BEC) and funds transfer fraud (FTF) incidents, with 29% of BEC events resulting in FTF.
Posted on Thursday May 8

Funding for flood defences crucial as claims top GBP200m

Between January and April this year, claims for weather-related damage to people’s homes and possessions topped £200 million for the first time ever. Payouts surpassed the previous quarterly record from Q1 2022 by £67million.
Posted on Thursday May 8

Cyber insurance claims decrease by 20 percent in 2024

According to new research by Marsh, UK cyber claims decreased by 20% in 2024 following a spike in 2023 but remained approximately one-third higher than 2020, 2021, and 2022.
Posted on Wednesday May 7

Over 7m policies risk invalidation from this key requirement

Millions of home insurance policies could become invalid due to Brits delaying property maintenance. Two-fifths (41%) don’t realise that putting off maintenance work can void home insurance. 2.9 million policyholders are unaware that their cover is at risk due to delaying maintenance.
Posted on Tuesday May 6

US insurers leading the AI arms race

New research from leading Insurtech provider, hyperexponential (hx), reveals that while insurers are energised by the potential of artificial intelligence (AI), stark differences are emerging between UK and US markets, with US insurers pulling ahead in confidence, investment, and strategy execution.
Posted on Wednesday Apr 30

FCA set to launch live AI testing service

The FCA is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets.
Posted on Tuesday Apr 29

Hurricanes and earthquakes could lead to USD300bn losses

Following the long-term annual growth trend of 5–7%, global insured natural catastrophe losses may reach USD 145 billion in 2025, mainly driven by secondary perils like severe thunderstorms, floods and wildfires. Primary perils like hurricanes and earthquakes pose biggest risks, potentially driving insured losses to USD 300 billion or more in a peak year, according to Swiss Re Institute analysis. Reinsurers pivotal for peak years and well capitalised to absorb large shocks with estimated global capital of USD 500 billion.
Posted on Tuesday Apr 29

Over one third of London market firms now actively using AI

The Lloyd’s Market Association (LMA) has hosted a seminar on the use of AI within the London specialty market. The seminar referenced results from a recent survey completed by 81 firms in the London market, including 45 Lloyd’s managing agents.
Posted on Friday Apr 25